how much is this note worth?
First i'd like to say ive searched a ton about notes and feel i have at least a basic knowledge of them. Im not looking to purchase any notes nor am i looking to sell one however I do want to know how much the note i currently own could be worth and if this is even a good note to have. I get letters all the time from note buyers wanting to buy my note but i never wanted to call them because i always assume they just want to buy it super cheap which i dont blame them.
Anyhow ill try my best to explain the situation and give details on the note and hopefully I can get some advice or additional knowledge on if what I have is even any good.
In 2006 i purchased a foreclosed home via conventional financing. It was pre bubble so I actually bought it with 100% financing. At the time I thought it was a great idea to sell it via owner finance and do a wrap around mortgage. Today I wouldnt do that but it doesnt matter, i did it and i sill have it and nothing bad has ever happened. I dont make a ton of cash flow on it because of my mortgage on it but the little i do make is all infinite ROI since i never put a dime of my own money into it. All this was done through a laywer in Austin who specializes in setting up wrap arounds and owner financing so im confident the paper work i have on it is legit.
What im looking to find out really is if this is a decent note and if I did decide to call one of these note buyer letters, what kinds of offers do you think they would throw at me?
Here is info on the note i have, i believe it to be all the pertinent information needed but if i left something out let me know.
performing note (1 late payment in 2012 which he paid that month, just a few days later then the late date, he paid the late fee)
30 year fixed at 9.10%
original loan amount = $101,850.00
current unpaid balance = $94,026.20
payments made = 105
setup date 11/2006
Amount owed on my mortgage (the wrap) = $79k and some change.
current market value about 115k
house is in del valle tx which is a suburb of Austin, TX. its 12 miles to downtown austin if that matters which it probably doesnt.
What do you think?